TopBuild (NYSE:BLD) Releases Earnings Results, Beats Estimates By $0.06 EPS

TopBuild (NYSE:BLD) announced its quarterly earnings results on Tuesday. The construction company reported $5.68 earnings per share for the quarter, topping the consensus estimate of $5.62 by $0.06, Zacks reports. TopBuild had a net margin of 11.74% and a return on equity of 25.72%. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the business posted $5.43 earnings per share. TopBuild’s quarterly revenue was up 3.6% on a year-over-year basis. TopBuild updated its FY 2024 guidance to EPS.

TopBuild Trading Down 4.4 %

BLD stock traded down $16.60 during mid-day trading on Wednesday, reaching $361.11. The company had a trading volume of 232,468 shares, compared to its average volume of 286,937. The firm has a 50 day moving average of $385.93 and a 200 day moving average of $399.70. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.34 and a quick ratio of 1.82. TopBuild has a 12 month low of $262.64 and a 12 month high of $495.68. The company has a market capitalization of $10.89 billion, a PE ratio of 18.58, a price-to-earnings-growth ratio of 2.21 and a beta of 1.79.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Jefferies Financial Group reduced their target price on shares of TopBuild from $525.00 to $515.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Stephens reduced their price objective on TopBuild from $435.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Truist Financial lowered their price objective on TopBuild from $410.00 to $395.00 and set a “hold” rating for the company in a research note on Wednesday, August 7th. StockNews.com upgraded TopBuild from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Finally, Evercore ISI cut their price objective on shares of TopBuild from $491.00 to $443.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $441.56.

About TopBuild

TopBuild Corp., together with its subsidiaries, engages in the installation and distribution of insulation and other building material products to the construction industry. The company operates in two segments, Installation and Specialty Distribution. It provides insulation products and accessories, glass and windows, rain gutters, garage doors, fireplaces, roofing materials, closet shelving, and other products.